Tractor Supply’s (TSCO) “Hold” Rating Reiterated at Oppenheimer Holdings, Inc.
Oppenheimer Holdings, Inc. reaffirmed their hold rating on shares of Tractor Supply Company (NASDAQ:TSCO) in a research report sent to investors on Thursday. Oppenheimer Holdings also issued estimates for Tractor Supply’s Q3 2017 earnings at $0.68 EPS, Q4 2017 earnings at $0.86 EPS and FY2018 earnings at $3.67 EPS.
Several other brokerages have also recently weighed in on TSCO. J P Morgan Chase & Co cut Tractor Supply from an overweight rating to a neutral rating and reduced their price target for the stock from $88.00 to $67.00 in a research note on Wednesday, April 12th. Zacks Investment Research cut Tractor Supply from a hold rating to a sell rating in a research note on Wednesday, April 12th. Stephens cut Tractor Supply from an overweight rating to an equal weight rating and set a $65.00 target price on the stock. in a research note on Wednesday, April 12th. Royal Bank Of Canada cut their target price on Tractor Supply from $72.00 to $67.00 and set a sector perform rating on the stock in a research note on Thursday, April 27th. Finally, Robert W. Baird set a $80.00 target price on Tractor Supply and gave the stock a buy rating in a research note on Wednesday, April 12th. Nineteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $74.91.
Tractor Supply (NASDAQ:TSCO) opened at 56.62 on Thursday. The company has a market capitalization of $7.26 billion, a PE ratio of 17.11 and a beta of 1.32. The firm’s 50-day moving average price is $53.42 and its 200 day moving average price is $63.89. Tractor Supply has a 52 week low of $49.87 and a 52 week high of $92.11.
Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Wednesday, July 26th. The specialty retailer reported $1.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by $0.02. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Tractor Supply had a return on equity of 30.56% and a net margin of 6.16%. Tractor Supply’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.16 earnings per share. Equities research analysts expect that Tractor Supply will post $3.30 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Tractor Supply by 2,934.4% in the first quarter. BlackRock Inc. now owns 7,835,590 shares of the specialty retailer’s stock worth $540,419,000 after buying an additional 7,577,362 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Tractor Supply during the first quarter worth about $102,767,000. Morgan Stanley increased its position in shares of Tractor Supply by 214.1% in the first quarter. Morgan Stanley now owns 1,422,302 shares of the specialty retailer’s stock worth $98,098,000 after buying an additional 969,544 shares during the last quarter. Wedgewood Partners Inc. increased its position in shares of Tractor Supply by 41.4% in the first quarter. Wedgewood Partners Inc. now owns 2,200,018 shares of the specialty retailer’s stock worth $151,733,000 after buying an additional 643,844 shares during the last quarter. Finally, Columbia Wanger Asset Management LLC acquired a new position in shares of Tractor Supply during the first quarter worth about $37,690,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.
About Tractor Supply
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company is focused on supplying the needs of recreational farmers and ranchers and others, as well as tradesmen and small businesses. It is engaged in the retail sale of products that support the rural lifestyle.
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